Digital Twin Smart Parking Garage Market Report 2025

The digital twin smart parking garage market size has grown exponentially in recent years. It will grow from $1.12 billion in 2024 to $1.4 billion in 2025 at a compound annual growth rate (CAGR) of 24.6%. Growth during the historic period was driven by the increasing adoption of automated parking systems, rising investments in intelligent transportation infrastructure, greater awareness of traffic congestion solutions, expanded deployment of sensor-based vehicle management, and a stronger focus on reducing urban traffic emissions.

The digital twin smart parking garage market size is expected to see exponential growth in the next few years. It will grow to $3.33 billion in 2029 at a compound annual growth rate (CAGR) of 24.2%. Growth in the forecast period is expected to be driven by an increasing focus on predictive analytics for parking demand, greater adoption of AI-enabled parking optimization, rising integration of autonomous vehicles in garages, growing investments in green and sustainable parking solutions, and expanded deployment of real-time occupancy tracking. Key trends during this time include advancements in AI-driven parking management, sophisticated digital twin simulations for predictive maintenance, development of EV-charging-enabled parking infrastructure, innovations in interoperable and scalable digital twin platforms, and the rise of public-private partnerships and green infrastructure bonds.

The increasing number of vehicles is expected to drive the growth of the digital twin smart parking garage market in the coming years. Vehicles, including cars, trucks, and buses, are designed to transport people or goods from one place to another. As incomes rise, more individuals are able to purchase private cars, leading to greater reliance on personal transportation for daily commuting and travel. Digital twin smart parking garages support this growing vehicle population by providing a real-time virtual model of parking facilities, helping drivers quickly find available spaces, reducing search times, easing congestion, and enabling safer and more efficient parking. For example, in March 2025, the European Automobile Manufacturers' Association, a Belgium-based trade group, reported that worldwide car sales reached 74.6 million units in 2024, marking a 2.5% increase from 2023. This rise in vehicles is therefore a key factor fueling growth in the digital twin smart parking garage market.

Leading companies in the digital twin smart parking garage market are developing innovative solutions such as integrated smart vertical parking systems to tackle urban parking challenges. These systems offer automated, multi-level parking that leverages digital technologies to efficiently store, monitor, and manage vehicles in densely populated areas. For example, in July 2025, China Construction Engineering Corp., a China-based construction firm, introduced an integrated smart vertical parking system with EV charging capabilities aimed at resolving common issues in vertical parking garages, such as parking difficulties, lack of charging infrastructure, and inefficiency. This system features advanced technologies including AGV and RGV parking robots, charging robots, charging stations, and mechanical vertical parking structures. Vehicles are driven into a handover zone where a robot lifts and transports the car to a charging area; once charged, it is automatically parked in the vertical garage. Vehicle owners can reserve their cars through a smartphone app, and robots retrieve and deliver the vehicles on demand, offering a seamless smart parking and charging solution ideal for residential communities, commercial districts, hospitals, and autonomous driving environments.

In October 2024, HL Robotics, a South Korea-based robotics company, acquired Stanley Robotics for an undisclosed amount. This acquisition aims to accelerate the development and worldwide expansion of autonomous parking robot technology, establishing it as a key growth driver for HL Group and reinforcing their leadership in the global robotic parking market. Stanley Robotics, based in France, develops an automated parking system featuring a smart parking garage solution that includes a 3D digital twin platform for real-time analysis and simulation of parking operations.

Major players in the digital twin smart parking garage market are Robert Bosch GmbH, Siemens AG, Swarco AG, Kapsch TrafficCom Aktiengesellschaft, SKIDATA AG, Nederlandsche Apparatenfabriek N.V., PTV Planung Transport Verkehr GmbH, Scheidt & Bachmann GmbH, Q-Free ASA, INRIX Inc., T2 Systems Inc., Amco S.A., Amano McGann Inc., ParkPlus Inc., Mindteck (India) Limited, ParkMobile LLC, Streetline Inc., ParkHelp Technologies S.L., Urbiotica S.L., Meter Feeder Inc.

North America was the largest region in the digital twin smart parking garage market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in digital twin smart parking garage report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the digital twin smart parking garage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The swift increase in U.S. tariffs and the ensuing trade tensions in spring 2025 are significantly affecting the transport services sector by driving up costs for vehicles, spare parts, and fuel, key inputs often sourced from tariff-affected regions. Freight operators, logistics providers, and public transportation systems are facing squeezed profit margins as higher equipment and maintenance costs coincide with limited ability to pass on these expenses to customers due to competitive pressures. The uncertainty has also delayed fleet modernization and the adoption of greener, more efficient vehicles, slowing progress toward sustainability goals. To adapt, transport firms are optimizing route planning, investing in fuel efficiency technologies, renegotiating supplier contracts, and exploring collaborative logistics models to share costs and mitigate the impact of higher tariffs.

A digital twin smart parking garage is a highly detailed virtual replica of a physical parking facility that continuously collects real-time data from sensors, cameras, and IoT devices to track vehicle occupancy, traffic flow, and environmental conditions throughout the garage. It reflects the physical structure and operations within a digital environment, allowing ongoing analysis and insight into the garage’s performance and behavior.

The main components of a digital twin smart parking garage include software, hardware, and services. The software consists of applications and programs that create, manage, and update the virtual models of parking garages. These solutions are implemented both on-premises and via the cloud and incorporate technologies such as the Internet of Things (IoT), artificial intelligence (AI) and machine learning, big data analytics, and more. This technology is applied in commercial, residential, and public parking settings, serving users such as airports, shopping centers, hospitals, corporate offices, and others.

The digital twin smart parking garage market research report is one of a series of new reports that provides digital twin smart parking garage market statistics, including digital twin smart parking garage industry global market size, regional shares, competitors with a digital twin smart parking garage market share, detailed digital twin smart parking garage market segments, market trends and opportunities, and any further data you may need to thrive in the digital twin smart parking garage industry. This digital twin smart parking garage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The digital twin smart parking garage market consists of revenues earned by entities by providing services, such as real-time parking availability monitoring, guided navigation, predictive parking analytics, traffic flow optimization, and environmental monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. The digital twin smart parking garage market also includes sales of IoT-enabled sensors and devices, automated payment and billing systems, energy management and sustainability tools, and user interaction platforms. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by their creators.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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